The performance data quoted represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Please use the pulldown menu above to view month-end performance

Morningstar Overall Rating™ for Class A shares among 605 funds in the High Yield Bond category as of 11/30/16. Ratings reflect risk-adjusted performance, and are derived from a weighted average of the fund's 3-, 5-, and 10-year (as applicable) ratings.
As of 11/30/16 the fund received 3, 3, and 3 stars for the 3-, 5-, and 10-year periods out of 605, 469 and 311 funds in the category. Past performance is no guarantee of future results.
Other share classes may have different ratings.

Prospectus Fee Table Expense Ratios

Objective/Approach

The fund seeks to maximize total return, consisting of capital appreciation and current income.
View the Strategy & Risks section for this fund for more information.

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

Notes & Disclosures

Performance is historical and not indicative of future results. Investment return, yield, and principal value will fluctuate and an investor will receive more or less than the original cost upon redemption. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors, and should read the prospectus carefully.

Source: Morningstar, Inc. All rights reserved. Reflects reinvestment of dividends and, where applicable, capital gain distributions. The BofA Merrill Lynch U.S. High Yield Master II Constrained Index is an unmanaged performance benchmark composed of U.S. dollar-denominated domestic and Yankee bonds rated below investment grade with at least $100 million par amount outstanding and at least one year remaining to maturity. Bonds are capitalization weighted. Total allocations to an issuer are capped at 2%. Investors cannot invest directly in any index. Source: Morningstar.

The Ratings formula measures the amount of variation in a fund's performance and gives more emphasis to downward variations. The top 10% of the funds in the category receive five stars; the next 22.5% four stars; the next 35% three stars; the next 22.5% two stars; and the last 10% one star. Ratings reflect sales loads.The fund represents a single portfolio with multiple share classes that have different expense structures.

The "Dreyfus Investment Style Classification" graphically depicts the fund's investment strategy as described in its Prospectus. The horizontal and vertical axes describe the fund's general credit quality focus (High: AAA/AA; Medium: A/BBB; Low: Below BBB) and weighted average maturity in years (Short: <4; Intermediate 4-10; Long: >10). It is designed to support asset allocation decisions and not to depict actual fund holdings at a point in time.